SAN DIEGO, Jan. 26, 2005 (PRIMEZONE) -- Sagient Research Systems (OTCBB:SRYS), a leading publisher of independent research for the financial services and institutional investment communities, today announced that Roth Capital Partners, LLC ranked as the No. 1 investment bank in the PIPE market in 2004 for total number of transactions and that Rodman & Renshaw LLC ranked as the No. 1 investment bank in the PIPE market for total dollars raised. Omicron Capital, L.P. topped the list of most active institutional investors during 2004.
For the fourth quarter of 2004, Tejas Securities Group, Inc., ranked as the No. 1 investment bank in the PIPE market for total dollars raised, Rodman & Renshaw, LLC ranked as the No. 1 investment bank in the PIPE market for total number of transactions, and Omicron Capital, L.P. topped the list of most active institutional investors.
PlacementTracker, a flagship product of Sagient Research Systems, is well recognized as the leading provider of research, data, and analytics covering the PIPE market.
Commenting on the League Tables, Robert F. Kyle, executive vice president of Sagient Research said, "2004 was a roller coaster ride in the PIPE market. After a record-setting first quarter, the second and third quarters saw a dramatic drop-off in deal flow. Fortunately, we witnessed a significant rebound in the fourth quarter that propelled us to tremendous results for the full year period. In 2004, we recorded 1,269 PIPE transactions totaling $15.49 billion in equity and equity-linked capital raised (excluding Structured Equity Lines and Canadian domiciled issuers). The total transaction count was the highest in the ten years we have been analyzing this market and total capital raised amount was second only to 2000. As always, we congratulate all of the active agents and investors in the PIPE market for a tremendous 2004, especially those leaders who topped the League Tables. Many of these firms are long-time clients of PlacementTracker, and we look forward to continuing to provide them with industry leading data, research, and analytics to help keep them on top of this market."
PlacementTracker's dynamically updating League Tables are available online at: http://www.sagientresearch.com/pt/leaguetables.cfm.
The 2004 PIPE Market Investment Banking League Table
By Dollar Amount Raised:
Transaction Total Amount
Placement Agent Name Count Raised
-------------------- ------------ -----------------
Rodman & Renshaw, LLC 38 $ 590,680,776
Roth Capital Partners, LLC 41 $ 584,222,316
Banc of America Securities, LLC 11 $ 546,678,880
SG Cowen & Co., LLC 16 $ 347,035,901
Tejas Securities Group, Inc. 6 $ 346,070,434
J.P. Morgan Chase & Co. 8 $ 339,998,987
Sunrise Securities Corp. 6 $ 262,313,691
CIBC World Markets 7 $ 256,285,358
Bear, Stearns & Co., Inc. 3 $ 229,242,564
Lazard Freres & Co., LLC 4 $ 223,090,881
Lehman Brothers, Inc. 5 $ 197,536,910
William Blair & Company, LLC 7 $ 194,288,780
UBS Investment Bank 5 $ 182,111,002
Sterne, Agee & Leach, Inc. 6 $ 174,940,679
C.E. Unterberg, Towbin 12 $ 174,683,070
ThinkEquity Partners 11 $ 172,735,385
Legg Mason Wood Walker, Inc. 4 $ 147,240,502
Jefferies & Co., Inc. 6 $ 142,743,563
Thomas Weisel Partners, LLC 8 $ 127,134,871
Deutsche Bank Securities, Inc. 1 $ 125,000,000
RBC Capital Markets, Inc. 6 $ 123,398,194
Burnham Hill Partners 14 $ 117,689,862
The Shemano Group, Inc. 17 $ 115,796,557
Merriman Curhan Ford & Co. 10 $ 113,279,192
WR Hambrecht + Co., LLC 5 $ 110,917,606
Investment Banking rankings exclude all Equity Line of Credit
transactions and all PIPE transactions conducted by Canadian
domiciled issuers. On transactions where an investment banking
firm has acted solely as Financial Advisor, that transaction
has been excluded from that firm's ranking. Co-agented
transactions award full transaction credit to all agents
participating (regardless of status of lead agent or
co-agent). Data is as reported as of 1/25/05.
The 2004 PIPE Market Investment Banking League Table
By Number of Transactions:
Transaction Total Amount
Placement Agent Name Count Raised
-------------------- ----------- -----------------
Roth Capital Partners, LLC 41 $ 584,222,316
Rodman & Renshaw, LLC 38 $ 590,680,776
H.C. Wainwright & Co., Inc. 25 $ 71,095,641
Duncan Capital, LLC 18 $ 68,381,104
The Shemano Group, Inc. 17 $ 115,796,557
SG Cowen & Co., LLC 16 $ 347,035,901
Burnham Hill Partners 14 $ 117,689,862
C.E. Unterberg, Towbin 12 $ 174,683,070
HPC Capital Management Corp. 12 $ 97,263,021
Banc of America Securities, LLC 11 $ 546,678,880
ThinkEquity Partners 11 $ 172,735,385
Merriman Curhan Ford & Co. 10 $ 113,279,192
Maxim Group, LLC 10 $ 42,253,101
C.K. Cooper & Company, Inc. 9 $ 78,196,444
J.P. Morgan Chase & Co. 8 $ 339,998,987
Thomas Weisel Partners, LLC 8 $ 127,134,871
Stonegate Securities, Inc. 8 $ 52,282,540
Westminster Securities Corporation 8 $ 34,792,000
JPC Capital Partners, Inc. 8 $ 31,099,087
Ascendiant Securities, LLC 8 $ 21,500,000
CIBC World Markets 7 $ 256,285,358
William Blair & Company, LLC 7 $ 194,288,780
Sanders Morris Harris, Inc. 7 $ 108,842,442
SCO Financial Group, LLC 7 $ 104,861,088
First Albany Capital 7 $ 97,649,999
Investment Banking rankings exclude all Equity Line of Credit
transactions and all PIPE transactions conducted by Canadian
domiciled issuers. On transactions where an investment banking
firm has acted solely as Financial Advisor, that transaction
has been excluded from that firm's ranking. Co-agented
transactions award full transaction credit to all agents
participating (regardless of status of lead agent or
co-agent). Data is as reported as of 1/25/05.
The 2004 PIPE Market Institutional Investor League Table
By Number of Transactions:
Transaction Total Amount
Investor Name Count Invested
------------- ------------- ------------------
Omicron Capital, L.P. 110 $ 136,600,939
LH Financial Services Corporation 102 $ 50,175,319
Vertical Ventures Investments, LLC 97 $ 66,520,760
Highbridge International, LLC 92 $ 329,869,773
Laurus Family of Funds 85 $ 299,950,000
Downsview Capital, Inc. 80 $ 56,011,607
Bristol Capital Advisors, LLC 76 $ 40,161,443
Ramius Capital Group, LLC 71 $ 112,466,725
Canaccord Capital Corporation 71 $ 33,851,474
Staro Asset Management, LLC 69 $ 99,612,227
SRG Capital, LLC 61 $ 11,287,808
Heights Capital Management, Inc. 53 $ 77,030,665
Kingsport Capital Partners, LLC 52 $ 66,244,452
GreenLight (Switzerland) S.A. 50 $ 21,743,083
DKR Management Company, Inc. 48 $ 36,062,730
Alexandra Investment Management 47 $ 117,956,724
Enable Growth Partners, L.P. 45 $ 12,961,173
Titan Capital Management 45 $ 8,374,377
BayStar Capital, L.P. 44 $ 56,081,876
Ram Capital Resources, LLC 44 $ 27,802,602
Basso Capital Management, L.P. 41 $ 23,364,097
Gryphon Partners, L.P. 38 $ 29,214,948
Bluegrass Growth Fund Partners, LLC 38 $ 20,508,649
Rock Hill Investment Management, L.P. 37 $ 14,475,950
Balyasny Asset Management, L.P. 34 $ 46,618,410
Investor rankings exclude all Equity Line of Credit transactions
and all PIPE transactions conducted by Canadian domiciled
issuers. Investors classified as Corporate Investors and Insurance
companies have been excluded from this ranking.
Data is as reported as of 1/25/05.
About Sagient Research Systems
Sagient Research Systems is a publisher of independent research. We develop, produce, and sell proprietary research products to mutual funds, hedge funds, and investment banks. Our business strategy is to continue to leverage our development, technology, and marketing expertise to solidify our position as a leading provider of independent research to the financial services and institutional investment communities. For more information, please visit the Sagient Research Systems website at www.sagientresearch.com.
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